EUR/USD Daily Forecast – 04 January

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Wednesday, Jan 03 2018

EUR/USD Daily Forecast – 04 January

Euro spent yesterday's session in a decline going all the way to 1.20 handle, where it found some amount of support and managed to finish the session slightly above this area. Decline was mostly caused by rather good US data. As for tomorrow, focus will be on US figures in a lack of major data releases from Eurozone. Any type of supportive candles around 1.1980 and 1.1950 area would be short-term buying signal, while resistive candles above 1.2030 and 1.2060 level would be short-term selling opportunity.

In long-term trends, we would be buyers for this pair, despite this pullback. We expect plenty of support around 1.15 handle, and we still expect a lot of struggle above 1.20 area.

More in this category: « GBP/USD Daily Forecast – 04 January AUD/USD Daily Forecast – 05 January »

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